"EU Approves Billions in State Aid for Major Hydrogen Projects"
Originally Published 1 year ago — by GlobeNewswire
Fusion Fuel has received approval from the European Commission for its HEVO-Portugal project under the Important Projects of Common European Interest (IPCEI) Hy2Infra program. The €650 million, 630 MW project in Sines, Portugal, aims to produce 62,000 tonnes of green hydrogen annually, with a portion to be used in green ammonia production and export. The approval positions Fusion Fuel to commence funding negotiations with government stakeholders and the European Investment Bank, marking a significant milestone in the company's efforts to contribute to the rapid decarbonization of Portugal's largest industrial hub and advance the European green hydrogen economy.